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Moving S&S ISA from HL who've now sold some funds
I have a fair number of funds with HL which are within ISAs, and I wanted to move from HL to Self Investor. HL have just told me they've sold three of the funds. So I now have cash within an S&S ISA. How do I move that cash to another provider and maintain the ISA wrapper? (I know Self Investor don't do cash ISAs.)
Comments
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If you have a S&S ISA and want to move it to another S&S ISA then that is absolutely fine. It makes no practical difference what is inside it other than cash should be faster to move
Remember the saying: if it looks too good to be true it almost certainly is.0 -
I found cash was the last thing to be moved after shares and funds.
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So will that cash get transferred the new provider? The process to move an S&S ISA requires me to list the funds/shares that I want to transfer (which is what I've done) - it doesn't ask for cash details
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When transferring from one S&S to another, you car do an "in specie" transfer where the funds/shares will transfer directly but only if you are invested in a fund that is available with both providers. Otherwise, it is common for the outgoings S&S ISA provider to sell the shares, and transfer the cash over to the new S&S ISA where you can then rebuy stocks and shares.
#24 Save 12k in 20262 -
Many thanks. I did wonder if that might happen. There were already a couple of funds plus a stock that Self Investor don't carry, so I assume these others are also not available.
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I did recently transfer my ISA out of HL and if I was doing it again I would sell all funds first then transfer cash (well unless I had shares that selling costs money). Cash transfer was last but took like a day or two, most funds took 2 weeks with one dragging for about 6 weeks.
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OK a further question if I may. Now most of my funds have been transferred from HL to Abrdn Self Investor, so far so good. But there is a still a chunk of cash in that S&S ISA. How do I move that when the process to transfer only asks for the details of each stock to transfer, nothing about cash?
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Cash always moves last.
You either ticked the box 'full transfer'
Or partial box then stated in the cash section either all or how much.
Don't touch the cash yourself..
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